PT Eastparc Hotel Tbk (EAST) recorded a decline in revenue of 42.15% to Rp37.07 billion by the end of 2020, compared to the same period last year of Rp64.08 billion.

A drop in hotel occupancy, which the company controls, triggered The decline. Based on financial reports, the pandemic is still the leading cause of the decrease in the company's room occupancy rate by contributing Rp20.99 billion, even though in 2019 it was still able to contribute Rp33.66 billion.

The occupancy rate's fall automatically reduced food and beverage sales by 47.88% to Rp14.74 billion from Rp28.28 billion annually.

The other segment contributed Rp1.33 billion. The company's revenue cost in that period reached Rp13.39 billion, down 43.36% from Rp23.64 billion.

That way, the Eastparc Hotel recorded a gross profit of Rp23.67 billion. Meanwhile, operating expenses amounted to Rp19.51 billion, and depreciation expense amounting to Rp2.16 billion.

In 2020, the company received additional income from several segments such as a Ministry of Tourism and Creative Economic grant of Rp1.30 billion, income from interest Rp1.34 billion, up 6.35% from Rp1.26 billion. The company also saw a significant increase in the financial income, which amounted to Rp3.87 billion. In the previous year, the company did not get any revenue from this segment.

Finally, net other income contributed Rp252 million. Thus, after deducting some taxes, the profit for the current period received by the company amounted to Rp5.18 billion, contracted 42.38% from the final 2019 result of Rp8.99 billion.